NetEase Inc
- Industry
- Gaming & Entertainment
- Exchange
- US
- Country
- USA
- IPO date
- Jun 30, 2000
- Employees
- 25,382
- Website
- ir.netease.com
Composite valuation range · conservative $80–$88 / fair $116–$156 / optimistic $186–$205. At $123.73, Within the fair intrinsic-value range.
At publication $125.63 (Jun 15, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally. The company operates through Games and Related Value-Added Services; Youdao; NetEase Cloud Music; and Innovative Businesses and Others segments. It develops and operates mobile and PC games; and offers games licensed from other developers. The company also provides live streaming service, and other related or ancillary value-added services related to games, such as the sale of game-themed merchandise. In addition, it offers digital content services with interactive learning features, including Youdao Lingshi and Youdao Literature; STEAM courses consisting computer coding courses and other STEAM courses; and adult courses, such as China University massive open online course. Further, the company provides Youdao Dictionary, an online language tool; Confucius, a large language model for the education sector; Hi Echo, an AI-driven virtual English-speaking tutor; Mr. P AI Tutor, a conversation-based tool; Youdao Desktop Translation, a desktop dictionary tool; U-Dictionary, an online dictionary and translation app; iRecord, an audio transcription tool; LectMate, an interpretation software for study-abroad lecture scenarios; iArch, an AI home design software; Baby Genius, an AI baby generator; and One Translate Translator, a translation tool for travelers. It also offers online marketing services consisting of performance-based advertising services, and global marketing and promotion services through banners, text links, videos, logos, buttons, and rich media. Additionally, the company develops and offers smart devices, including Youdao Dictionary Pen, Youdao Listening Pod, and Youdao Smart Learning Pad. NetEase, Inc. was formerly known as NetEase.com, Inc. and changed its name to NetEase, Inc. in March 2012. The company was founded in 1997 and is headquartered in Hangzhou, the People's Republic of China.
History
NetEase's business was founded in June 1997 and its Cayman parent was set up in July 1999, starting as an internet portal and basic services provider. It listed on Nasdaq on 2000-06-30, issuing 4.5 million ADRs at USD 15.50 each to raise about USD 69.75 million, but a 2000-2001 accounting restatement followed after employees fabricated advertising and e-commerce contracts. The company pivoted to self-developed games, launching the Westward Journey MMORPGs Westward Journey Online (2001) and Fantasy Westward Journey (2004), began mobile expansion from 2013, listed in Hong Kong in 2020 at HK$123, and changed its name from NetEase.com, Inc. to NetEase, Inc. in March 2012.
Industry position
NetEase, Inc. is a China-based internet company whose 2025 revenue was about 82% from games (around 84% in Q1 2026), operating through Games and Related Value-Added Services, Youdao, NetEase Cloud Music, and Innovative Businesses and Others segments. In 2025 total revenue was RMB 112.6 billion, with games and related value-added services at RMB 92.1 billion. It remains a leader in China's game market—where China's domestic game market reached RMB 350.79 billion in 2025—competing with Tencent, Nintendo, Roblox, Microsoft/Blizzard, and Sea. At end-2025 it had 25,382 employees, 47.8% of whom were R&D staff.